golden handshake

noun
1.
a special incentive, as generous severance pay, given to an older employee as an inducement to elect early retirement.
2.
the giving or offering of such an incentive.
Origin
1955-60
British Dictionary definitions for golden handshake

golden handshake

noun
1.
(informal) a sum of money, usually large, given to an employee, either on retirement in recognition of long or excellent service or as compensation for loss of employment
Slang definitions & phrases for golden handshake

golden parachute

noun phrase

Very high sums, benefits, etc, offered for taking early retirement: ''Golden parachutes'' or severance packages are all becoming more common/ A parting golden handshake with GM included a valuable Cadillac franchise ( first form 1980s+, second 1960+)


Idioms and Phrases with golden handshake

golden handshake

Generous severance pay to an employee, often as an incentive for early retirement. For example, With a dwindling school population, the town decided to offer golden handshakes to some of the teachers. This slangy business term dates from the mid-1900s. A close relative is golden parachute, a generous severance agreement for an executive in the event of sudden dismissal owing to a merger or similar circumstance. This expression first appeared about 1980.